Former HIH Company Secretary Frederick Lo has appeared at the Downing Centre Local Court in Sydney on four charges relating to his work with HIH.

The Australian Securities and Investments Commission (ASIC) charged Mr Lo last week with making a false or misleading statement to officers of Westpac with the intention of obtaining a financial advantage for FAI Insurance in 2000.

ASIC alleges Mr Lo, as an officer of HIH, failed to properly exercise his powers and discharge his duties for a proper use.

He faces charges for making false statements to the Australian Prudential Regulation Authority (APRA) that CIC Insurances had exceeded the minimum solvency requirements of the Insurance Act by $17 million, when it really fell short of requirements by $111 million.

Mr Lo is also charged with not disclosing to APRA that the assets of CIC were pledged to secure the liabilities of other entities. He is due to appear in the Supreme Court on October 6.